Peter Andre ‘in a £262,000 financial dispute’ as his personal company goes bust after financial trouble amid the coronavirus pandemic
Peter Andre is involved in a £262,000 financial dispute after his personal company went bankrupt.
While his ex Katie Price’s money troubles are well documented, the Mysterious Girl singer also ran into financial trouble when PJA Promotions appointed a liquidator on May 9 to dissolve the company.
The dispute concerns £229,125 in corporate tax which HMRC says it owes, and a further £25,577 in VAT, plus £7,592 in trade payables, both of which are finance companies.
According to the liquidator’s statement of affairs, how much of this will be recovered is uncertain and £5,000 worth of furniture and equipment is expected to come to zero.
It’s clear that PJA Promotions fell behind schedule after Andre’s tour schedule ground to a halt during the coronavirus pandemic.
In the red: Peter Andre’s personal business has gone bankrupt with £262,000 in debt, two-thirds of which is owed to the taxpayer, which he disputes
Old times: PJA Promotions was formed in 1996, at the height of Andre’s pop career, with the Australian singer listed as the sole director (pictured in 1996)
A source told MailOnline: “No one was allowed to work during the pandemic and like millions of other entrepreneurs, people lost businesses and jobs during this time.
Fortunately, he is now working regularly again. Pete has paid millions of pounds in tax during his career and is working with HMRC to resolve this dispute. He never took out any loans.’
The 50-year-old currently lives in a country house in Surrey with doctor’s wife Emily and his children Amelia, 9, Theo, 6, Princess, 15, and Junior, 17.
On Chris Evans’ Virgin Radio show last month, Andre admitted he had been vacuuming real estate since the 1990s after his father secretly saved his hit royalties when the singer thought he was broke.
Problem: It’s clear that PJA Promotions fell behind schedule after Andre’s tour schedule ground to a halt during the coronavirus pandemic
Family: The 50-year-old currently lives in a country house in Surrey with doctor’s wife Emily (pictured) and his children Amelia, 9, Theo, 6, Princess, 15 and Junior, 17
He said, “Luckily I saved for you and all those royalties that came in, which I had no idea about, my father saved and I had enough to buy two or three great properties. So I started buying properties from before things happened here.”
Andre has six other active businesses, but they are all currently dormant. In the latest set of bills filed in October 2022, PJA Promotions had a debt of £95,192.
The company was founded in 1996, at the height of Andre’s pop career, with the Australian singer listed as sole director.
MailOnline has reached out to a representative for further comment.